The University of Michigan released its final April reading on Friday: 49.8 on the Consumer Sentiment Index, the lowest number in the survey's seventy-four-year history. It is worse than the trough of June 2022, when post-pandemic inflation peaked. It is worse than April 2009, when unemployment was approaching 10 percent. It is worse than any month of the financial crisis, the dot-com bust, the 1990 recession, or the early-1980s Volcker shock.
Read Full Article »
